Despite all the hype, Black Friday doesn’t always offer the best deals.
If you’re looking to score some of the best shopping deals of the year, you might want to hit the mall (or the Internet) before Black Friday.
Although Black Friday is hyped as the best day to snatch up gift items at heavily discounted prices, The Wall Street Journal says that “it pays to track what retailers do, not what they say.”
Data from Adobe Systems Inc. shows that in 2013, retailers’ biggest price cuts of the entire year were seen the Sunday before Thanksgiving, the WSJ said. And the holiday season’s lowest prices came the day before Thanksgiving, not on Black Friday.
“The weeks before the Black Friday weekend offered better deals than the weeks leading up to Christmas,” the WSJ added.
Many savvy consumers have figured out the trend. A recent survey from Swagbucks.com revealed that 68 percent of shoppers make the majority of their holiday gift purchases before Black Friday.
“As retailers compete to attract ever more discerning customers, early holiday rewards promotions, sales and incentives will be a key driver for holiday shopping decisions made before Black Friday and Cyber Monday,” Swagbucks.com said.
According to The Dallas Morning News, many retailers hike up their cash-back offerings (at sites like BeFrugal.com, eBates and FatWallet) before Black Friday hits. Brent Shelton of FatWallet said if you combine sales prices with high cash-back percentages, you’ll most likely be getting a better deal than waiting to shop on Black Friday.
When to find the best deals online
If you want to score a good deal online, don’t wait until Cyber Monday. Shop on Thanksgiving instead, MarketWatch said.
“Prices online likely will be discounted an average of 24 percent that day, better than the average of about 20 percent on Cyber Monday or about 23 percent on Black Friday,” MarketWatch reported.
The National Retail Federation said an increasing number of people are choosing to shop online in the comfort of their own home, rather than facing the mad rush of holiday shoppers at a brick-and-mortar store. No surprise there. A recent NRF survey said 56 percent of consumers plan to shop online this year, up from 51.5 percent last year.
If you’re like me, you loathe the Christmas creep, as holiday items hit store shelves before Halloween. But it looks like I may have to get into the holiday spirit a little earlier this year in order to save myself some money.
You’ll most likely find me shopping in my jammies online, rather than joining the harried mob of holiday shoppers.
When do you do your holiday shopping? Share your comments below or on our Facebook page.